Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the limits of the decline. At this point, we should expect an attempt to test the support level near the level of 1.2540 and continue the growth of the pair in the area above the level of 1.2780.
USD/CAD forecast & technical analysis April 19, 2018
In favor of the growth of quotations of the Canadian Dollar, a trend line test will be performed on the indicator of relative strength, as well as the formation of the bullish «Shark» model. The cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2480, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1.2360. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of quotations above the level of 1.2620.
USD/CAD forecast & technical analysis April 19, 2018 assumes a test of the support level near 1.2540 and the continuation of growth to the area above the level of 1.2780, an additional signal in favor of growth is the trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option will be a breakdown the level of 1.2480.
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